Today seemed to be another bullish day. Stocks from scanners are mostly gap-uppers. And economic news at 10am was good. Everything seemed fine. However, every stock I longed in the morning seemed to be a “no-go”–they simply wouldn’t move up. And the feeling was like…..the pre-stage of an earthquake. Everything seems normal, the stocks opened up high and still steadily moved up, but the volume of trades seemed small and momentum was not there.
This is a typical sign of market correction. Take a look at the S&P daily chart for …

In the week of Nov 8, 2010, I have only traded two day–Nov 8 and Nov 9, with a total profit of $366. Below is the detailed daily report:
Nov 8, 2010, Monday
I made a total of $224 today. Entered four stocks. I made some good money on NFLX and entered FSLR by mistake. I failed to notice that the volume of NFLX at the entry point was much lower than its average volume on its previous days. This is a bad sign for trading as low volume means traders …

First of all, what exactly is day trading? According to Wikipedia’s definition, Day Trading refers to the practice of buying and selling financial instruments (such as stocks, futures, options, etc.) in order to generate a profit within the same trading day. Traders that participate in day trading are called active traders or day traders.
Day trading, like any other business professions, needs profound training, decent planning, and lots of practice. Thousands of beginners enter the day trading business every day in hope of making quick money. Yet only a few of …

MHK is a great stock that I missed today. To be exact, I didn’t missed the stock, but I missed the right entry point. I actually entered the stock twice. The first time was at a fake breakout point, and the second time was at a less favorable point that I was not comfortable to stay for long. Take a look at the pattern first:

The first time I entered the trade, was right after the stock dip under $58 at $57.84. The stock first showed strong momentum to go down, …